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Getting accurate valuation for car

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  • 09-06-2013 7:59pm
    #1
    togobelow
    Registered Users Posts: 5 ✭


    Hi,

    Am considering purchase of a car.

    What is the best way to go about valuing it?

    It is a 320 BMW petrol, year 2006. I've checked general valuation websites where you put the car registration in. They don't take into account condition of the actual car though, mileage, service history, etc.

    From what I understand, Carzone is probably inflated prices compared to what you would pay privately as it is mainly dealers who have to give warranties on the vehicle.

    Do you think a site such as donedeal is probably the most accurate indicator of market value? Anyone have any estimate of what the above model car and year would get in a private sale?

    Many thanks


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    #2
    Bigus
    Registered Users Posts: 4,941 ✭✭✭Bigus


    togobelow wrote: »
    Hi,

    Am considering purchase of a car.

    What is the best way to go about valuing it?

    It is a 320 BMW petrol, year 2006.[/They don't take into account condition of the actual car though, mileage, service history, etc.

    Anyone have any estimate of what the above model car and year would get in a private sale?

    Many thanks

    You don't tell us either so how can we value it


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    #3
    166man
    Registered Users Posts: 6,575 ✭✭✭166man


    E46 or E90?


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    #4
    togobelow
    Registered Users Posts: 5 ✭togobelow


    166man wrote: »
    E46 or E90?

    E90


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    #5
    ironclaw
    Registered Users Posts: 8,004 ✭✭✭ironclaw


    In my opinion, you should be taking a rough average and then adjusting that to the car. Great history and excellent condition, go a little higher than average etc. Factor in if your buying from a dealer and the comeback that provides. That comeback might be worth more than the car if it came to it. But to answer your question, the average cost of a 2006 3-Series is about €9200.


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    #6
    togobelow
    Registered Users Posts: 5 ✭togobelow


    Bigus wrote: »
    You don't tell us either so how can we value it

    Fair point. Will just have to look at a lot of similar models and get some sort of average.

    Hard to know what these cars actually end up going for though compared to asking price.


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    #7
    togobelow
    Registered Users Posts: 5 ✭togobelow


    ironclaw wrote: »
    In my opinion, you should be taking a rough average and then adjusting that to the car. Great history and excellent condition, go a little higher than average etc. Factor in if your buying from a dealer and the comeback that provides. That comeback might be worth more than the car if it came to it. But to answer your question, the average cost of a 2006 3-Series is about €9200.

    Thanks for that, and for giving me a starting point.


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    #8
    unkel
    Registered Users Posts: 65,240 ✭✭✭✭unkel
    Chauffe, Marcel, chauffe!


    ironclaw wrote: »
    the average cost of a 2006 3-Series is about €9200.

    What do you base that on? Seems very high to me. Just looking at donedeal now and there are plenty of '06 BMW 320i for around €6k. That's the asking price (and obviously nobody pays the asking price).


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    #9
    dingding
    Registered Users Posts: 4,928 ✭✭✭dingding


    If you go on the revenue site and look for a VRT quote as if you were importing the car it will give you the OMSP (Open Market Selling Price) of the car.

    Might be one figure to use.


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    #10
    bazz26
    Registered Users Posts: 51,206 ✭✭✭✭bazz26


    You can buy early E90s especially petrol models for smallish money these days. What spec is it, if it is a M Sport then it will fetch a bit more over a standard ES or SE. The autos fetch a little more too.


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    #11
    ironclaw
    Registered Users Posts: 8,004 ✭✭✭ironclaw


    unkel wrote: »
    What do you base that on? Seems very high to me. Just looking at donedeal now and there are plenty of '06 BMW 320i for around €6k. That's the asking price (and obviously nobody pays the asking price).

    I said 3-Series, not a specific model (e.g. 320 etc) within the 3-Series. I personally think its a better figure to use as even within a model (say a 320 etc) you have high spec, low spec, well looked after and abused. So you take the average for the overall series and then take a few choice examples of the exact model you want. You can then form a much better opinion of what the car is worth within its model bracket and further adjust for overall for the market. Just my two cents on it!


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    #12
    unkel
    Registered Users Posts: 65,240 ✭✭✭✭unkel
    Chauffe, Marcel, chauffe!


    Fair enough, but to think the OP has even half a chance of selling his car at €9.2k - it ain't gonna happen :)


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    #13
    ironclaw
    Registered Users Posts: 8,004 ✭✭✭ironclaw


    unkel wrote: »
    Fair enough, but to think the OP has even half a chance of selling his car at €9.2k - it ain't gonna happen :)

    I thought he was buying :confused: Ah well, at least we're in the ball park.


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    #14
    AltAccount
    Registered Users Posts: 2,058 ✭✭✭AltAccount


    Don't go on average, go on lowest (reasonable) price for a similar car.

    If there are 3 cars for €6k and 10 for €9k, why would you pay the average price when you have the choice of a lower price?


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    #15
    ironclaw
    Registered Users Posts: 8,004 ✭✭✭ironclaw


    AltAccount wrote: »
    Don't go on average, go on lowest (reasonable) price for a similar car.

    If there are 3 cars for €6k and 10 for €9k, why would you pay the average price when you have the choice of a lower price?

    Cheap is cheap for a reason though. You don't have to pay the average price, its just a good idea to know what it is so you can gauge what a car is versus what it should be. If 13 cars are of the exact same standard, and 3 are €3k lower than the rest, then there is reason to exercise caution in my mind. I'm not saying there is anything wrong but generally a good seller won't sell a good car for peanuts.

    Knowing the average also gives you a massive bargaining chip to use if a car is over priced.


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    #16
    togobelow
    Registered Users Posts: 5 ✭togobelow


    ironclaw wrote: »
    I thought he was buying :confused: Ah well, at least we're in the ball park.

    Yes buying. Just wondering, do ye think Carzone have over inflated prices? I've seen some stuff on there that says "last updated 130 days ago", so I presume that mean's it's just not selling.

    Do you think donedeal gives a better indication?

    Lots of good points so far, thanks for help.


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    #17
    ironclaw
    Registered Users Posts: 8,004 ✭✭✭ironclaw


    CarZone is mainly dealers but a lot of CarZone appears on DoneDeal. I have a feeling they correlate and share data, nothing wrong with that mind you. Anything that old has either been forgotten about, sold and not taking down or isn't selling. It depends on the car in question. Either way, sit down and decide what you want to spend. Then go view a few cars. Talk to the seller, get the 'best price' and then review all and buy. Its the only way to approach it. Whatever you do, don't buy the first car you see unless its absolutely unmissable (Rare in my experience) Its also a buyers market so anyone with a car that 'first to see with buy' is kidding themselves. There will be at least 5 more on the market.

    Its sort of different with dealers as you have to add the warranty, consumer rights and general safety net into the mix (Provided they are reputable) You also cannot compare the DoneDeal private market to dealers, chalk and cheese as a dealer will never be able to match a private seller. Which is fair enough as a private seller has no overheads and doesn't have to stand over a car.

    Personally I feel the market is currently being hit by private cowboys flipping cars for cheap and people who never maintained their cars that are now breaking down, can't afford to repair and they now want to flog them as soon as possible. With that in mind, before buying anything privately run over it with a trustworthy mechanic and fine toothcomb. And even with that, be prepared for the worst.


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